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Should we start a new political party? Seriously. I'm sick of it.
My sons’ futures are being mortgaged at a record rate and no one is talking about it. Trump has added far more debt than Obama, and not a word about it from Republicans. Democrat’s are similarly proposing crazy new levels of spending. Both are the party of more. Just a question of which group they cater to, but it's all coming on the backs of me and you so pick your poison.
Media in this case has been a co-conspirator too. I’m a big fan of the fourth branch of government and normally don't throw out lines like that, but this week has been a remarkable one for what's not been talked about.
There has been wall to wall coverage of the demonstrations, coronavirus and more - but it's eerily silent on what's going to get us...our national debt.
We topped $26 trillion in National debt this week, and that's a number that means nothing to any of us. It's just some really big number, so consider putting a context to it to make it real.
The debt’s growth has been mind numbing, and far outpaced growth in the economy which is a key indicator in our ability to pay for its cost. Treasury department numbers show the national debt hit $24 trillion on April 7th and $25 trillion on May 5th….and now $26 trillion on June 10th.
Its growth comes with the deficits our federal government now runs and the Congressional Budget Office forecasts that this year’s deficit will hit $3.7 trillion, which would be more than two times the record $1.4 trillion deficit set in 2009.
Our federal government recorded a budget deficit of $1.88 trillion for the first eight months of this budget year, and this is larger than any annual shortfall in U.S. history.
In short, this is financial insanity. We are going to get so burned by this.
Remember to think of this as a way of getting your arms around these big numbers….
Equate trillions to the 60 seconds that make up a minute:
1000 seconds would equal 17 minutes.
1 million seconds would equal 12 days
1 billion seconds would equal 32 years.
..and...
1 trillion seconds would equal 32,000 years.....
Sincerely,
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